After 35 years of ringing in the New Year on Church Street, Burlington's First Night celebration is coming to an end.

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Updated: 9:55 PM EDT Apr 17, 2018

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WEBVTT NBC 5’S HELENA BATTIPAGLIA JOINS US NOW LIVE IN BURLINGTON -- TO BREAK DOWN WHAT THIS MEANS FOR FUTURE CELEBRATIONS. HELENA? HELENA: THAT IS RIGHT. I AM SURE THERE IS DISAPPOINTING NEWS FOR THE THOUSANDS THAT COME TO CHURCH STREET FOR FIRST NIGHT EVERY YEAR, BUT THE ICONIC EVENT IS NOT OVER FOR GOOD. THEY ARE CHANGING IT TO SOMETHING WITH A FOCUS ON THE ARTS. FRIGID COLD TEMPERATURES THIS PAST NEW YEAR’S KEPT PEOPLE AWAY, WHICH CAUSED THE FESTIVAL TO FACE FINANCIAL CHALLENGES. BURLINGTON CITY ARTS AND OTHER COMMUNITY PARTNERS ARE BRAINSTORMING NEW IDEAS FOR UPCOMING CELEBRATIONS. >> WE ARE CHANGING WHO WE ARE, BUT WE ARE STILL GOING TO EXIST AS AN EVENT FOR THIS CITY THANKS TO THE MAYOR AND CITY COUNCIL AND ALL OF OUR PARTNERS IS WHAT IS GOING TO MAKE THE DIFFERENCE. HELENA: DISCUSSIONS ON WHAT THE NEW CELEBRATION WILL BE HAVE JUST BEGUN, BUT THE PLAN IS TO HAVE A FESTIVA

Burlington's First Night celebration ending after 35 years

After 35 years of ringing in the New Year on Church Street, Burlington's First Night celebration is coming to an end.

After 35 years of ringing in the New Year on Church Street, Burlington's First Night celebration is coming to an end.

The board of directors announced Tuesday that the organizing group voted to disband.

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“First Night 2018 was particularly difficult for us,” board chair David Mount said. “The arctic temperatures and high winds kept people away in droves, causing us to incur a substantial loss. Our reserves have been fully tapped.”

First Night Burlington started on New Year’s Eve 1983 and has been a signature presentation in downtown Burlington ever since.

Thousands of people have enjoyed performances at a variety of venues around the Church Street Marketplace.

First Night’s primary sponsor told the organizing group after this year's celebration that it would substantially reduce its participation in future events.

That announcement left First Night without a major source of sponsorship income.

Button and ticket sales account for about 45 percent of First Night's revenue.

“It has been a joyous journey to present 35 First Nights to the community for those of us who had the privilege of being part of that effort,” board vice-chair Becky Cassidy said. "I am grateful for the many relationships I have through First Night and all that the community has given back to the organization."

Cassidy added that she hoped the Burlington City Arts team could find a way to continue some First Night traditions.

“For decades, thousands of Burlingtonians, visitors, and their families have enjoyed First Night,” Mayor Miro Weinberger said. “We are grateful for all that the leaders of First Night have contributed to this community and are hopeful that Burlington City Arts and other community partners can find a way to continue a new version of this great New Year’s tradition in 2019 and beyond.”

All bills from the 2018 celebration have been paid, the board said.

Other assets will be donated to another nonprofit group. Any money remaining will be donated to the Burlington City Arts Foundation.